The latest indication that the worsening global economic outlook is sapping corporate spending on IT services was delivered on Thursday when Accenture Plc announced it would reduce around 19,000 jobs and lower its year revenue and profit predictions.
On Thursday, the company revised its projections for annual revenue growth and profit amid concerns that recession-averse businesses would reduce their spending on technology.
As opposed to the earlier expectation of 8% to 11%, the company now anticipates yearly sales growth to be in the range of 8% to 10% in local currency.
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